Scandinavia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Scandinavia

The Scandinavia cold-rolled steel products market contracted remarkably to $X in 2022, waning by -95.2% against the previous year. Overall, consumption continues to indicate a significant contraction. The growth pace was the most rapid in 2021 when the market value increased by 7.2% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cold-Rolled Steel Products Production in Scandinavia

In value terms, cold-rolled steel products production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 8.7% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cold-Rolled Steel Products Exports

Exports in Scandinavia

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 2,725% to X tons, rising for the second consecutive year after four years of decline. In general, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cold-rolled steel products exports soared to $X in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of flat-rolled products of iron or steel (not further worked than cold-rolled), namely Finland, represented more than two-thirds of total export.

Finland was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than cold-rolled) exports, with a CAGR of +49.2% from 2012 to 2022. Finland (+40 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) also remains the largest cold-rolled steel products supplier in Scandinavia.

From 2012 to 2022, the average annual rate of growth in terms of value in Finland stood at +36.1%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, dropping by -50% against the previous year. In general, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2017 an increase of 17% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Finland.

From 2012 to 2022, the rate of growth in terms of prices for Finland amounted to -8.8% per year.

Cold-Rolled Steel Products Imports

Imports in Scandinavia

In 2022, imports of flat-rolled products of iron or steel (not further worked than cold-rolled) in Scandinavia dropped to X tons, falling by -3.1% on 2021 figures. In general, imports showed a perceptible decline. The pace of growth was the most pronounced in 2021 when imports increased by 18% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports surged to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 44%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Sweden represented the largest importer of flat-rolled products of iron or steel (not further worked than cold-rolled) in Scandinavia, with the volume of imports recording X tons, which was approx. 71% of total imports in 2022. Finland (X tons) held the second position in the ranking, distantly followed by Norway (X tons). All these countries together held approx. 29% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cold-rolled steel products imports into Sweden stood at -4.3%. Finland experienced a relatively flat trend pattern. Norway (-8.5%) illustrated a downward trend over the same period. While the share of Finland (+6.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Norway (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in Scandinavia, comprising 70% of total imports. The second position in the ranking was held by Finland ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden was relatively modest. In the other countries, the average annual rates were as follows: Finland (+4.2% per year) and Norway (-2.9% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, jumping by 32% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +61.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform